Suzuki Motor

TOKYO: Suzuki Motor Corp said on Tuesday it is recalling 119,718 cars across five models because of faulty air bag systems. Subject to recall are Swift, Wagon R, Solio, Cruise and MW models produced between March 2003 and September this year, the Japanese auto maker said in a statement. The air bag for the front passenger seat may not work properly, Suzuki said. It was not immediately clear whether the recalled models were sold overseas.

MUMBAI: Domestic mutual fund managers, who are against the plan to allow Suzuki Motor to develop the Gujarat plant instead of its arm Maruti Suzuki , face a predicament. The dilemma is whether to stick to their stand or to give in, keeping in mind business interests. At stake is the approximate Rs 10,000 crore cash Maruti holds as treasury investments that many mutual funds want to manage. Companies usually park their idle money in mutual fund...

TOKYO: Suzuki Motor chairman and chief executive Osamu Suzuki said Wednesday he would take on the additional post of president, vowing to lead the company through the current industry slump. Hiroshi Tsuda had resigned as president and became an adviser due to health problems, Japan's largest minicar manufacturer said. Osamu Suzuki said he decided to take on the extra role in order to "spearhead the company to survive this crisis. " He denied any immediate plan...

TOKYO: Suzuki Motor, Japan's largest maker of mini-cars, said it will build a new small car model in India to supply to Nissan Motor from the end of 2008, as part of the two companies' partnership. Suzuki plans to build 200,000 units a year, and half of them will be exported to Europe and sold under Nissan and Suzuki brands, Hirotaka Ono, a director in charge of overseas marketing, told reporters in Tokyo. Suzuki plans to set up a new production line to make the model at a...

NEW DELHI: In a setback to the government's "Make In India" drive, Maruti Suzuki has been compelled by the Haryana government to stop all construction work on a facility at Rohtak that was to develop and test cars for India and the world, the first such unit being set up outside Japan by the local auto maker's parent, Suzuki Motor. The Rs 3,500-crore-plus R&D project was expected to be operational by next year, but is now on hold as the state...

NEW DELHI/MUMBAI: The Competition Commission of India has imposed a combined penalty of over Rs 2,500 crore on 14 carmakers for indulging in unfair practices in the spare parts market, the latest in a series of tough enforcement actions by the newest among India's regulators. Tata Motors faces the maximum fine of Rs 1,346 crore, followed by Maruti Suzuki Rs 471 crore, Mahindra & Mahindra...

TOKYO: General Motors (GM) will sell a 17.4% stake in Japan's Suzuki Motor, scaling down its share in an effort to gain sorely needed cash, but the partnership between the automakers will continue, both sides said. The deal will leave the American automaker with a 3% stake in Suzuki in a deal valued at $2bn, and GM will drop to seventh-largest shareholder from top shareholder. Suzuki CEO Osamu Suzuki said he wanted to lend a helping hand to long-time partner GM. "We've been under support...

TOKYO: Suzuki Motor will seek to dissolve its 20-month-old alliance with Volkswagen after the German carmaker's 222.5 billion yen ($2.9 billion) investment failed to yield a single project. The Japanese automaker, which owns 1.49% of Volkswagen, plans to sell its holdings if Volkswagen agrees to end the tie-up, the company said in a statement to the Tokyo Stock Exchange. The Wolfsburg, Germany-based carmaker owns 19.9% of Suzuki, according to Bloomberg data. ...

TOKYO: Japanese auto maker Suzuki Motor Corp today said the Manesar production facility of its Indian subsidiary Maruti Suzuki is in a condition to resume operations but will not do so as safety is yet to be restored. While speaking to reporters after declaring quarterly results, Suzuki Motor Corp (SMC) Executive Vice President Toshihiro Suzuki said the Manesar plant is "in a condition to resume production" as there was no major damage to the plant...

TOKYO: Japan's Suzuki Motor Corp. said on Monday that its net profit nosedived by 91.8 per cent in the three months to June from a year-earlier because of weak sales and a stronger yen. The manufacturer of small cars and motorcycles said its net profit came to 2.1 billion yen (22 million dollars) for the April-June quarter, down from 26.0 billion yen a year earlier. Operating profit plunged 79.7 per cent to 6.9 billion yen as revenue fell 36.6 per cent to 577.1...

TOKYO/NEW DELHI: Japanese auto major Suzuki Motor on Monday reported 5.26% jump in its net income for the six-month period ended September 30, despite heavy production loss due to labour unrests at its best performing operations in India during the same period. During the April-September period, the company's net income increased to 32.01 billion yen (about Rs 2,010 crore) from 30.41 billion yen (about Rs 1,910 crore) in the same period last...

By Nipun Mehta Every once in a while we have a company management which takes pro-promoter decisions that are blatantly adverse for minority shareholders. High royalty payments, mergers with subsidiaries with high promoter holding, preferential allotment reserved only for promoters and at prices to a discount to the market, etc, are cases in point often being a part of promoters showing their large shareholding muscle power. However, a case like Maruti where...

NEW DELHI: Maruti Suzuki on Saturday caved into pressure from minority shareholders and agreed to seek a vote on the transfer of the Gujarat plant to parent Suzuki though it is not required to do so by law. India's largest carmaker and its Japanese parent Suzuki agreed at a board meeting to also change some of the terms of the agreement under which Suzuki will own and operate the plant initially supposed to be controlled by Maruti....

NEW DELHI: Maruti Suzuki India Ltd slipped as much as 1.94 per cent in trade on Tuesday, after the Reserve Bank of India (RBI) notified that the foreign share holding in Maruti Suzuki India by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) has reached the trigger limit of 22 per cent. At 09:30 a.m.; Maruti Suzuki was trading 1.6 per cent lower at Rs 1556. It hit a low of Rs 1551 and a high of Rs 1579 in trade today. ...

NEW DELHI: Maruti Suzuki India Ltd slipped as much as 5.3 per cent in trade on Friday as doubts persisted about the impact of the automaker's plan to source cars from a plant to be built by its parent Suzuki Motor . Maruti Suzuki recouped some of the intraday losses and finally ended 4.5 per cent lower at Rs 1586.30. It hit a low of Rs 1573.00 and a high of Rs 1665 in trade today. The stock has plunged a little over 10 per...

NEW DELHI: Maruti Suzuki India Ltd slipped as much as 5.3 per cent in trade on Friday as doubts persisted about the impact of the automaker's plan to source cars from a plant to be built by its parent Suzuki Motor. At 12:20 p.m.; Maruti Suzuki was trading 5 per cent lower at Rs 1579.25. It hit a low of Rs 1573.00 and a high of Rs 1665 in trade today. Maruti Suzuki issued a statement specifying financial details in a filing to...

NEW DELHI: Suzuki Motor Corp Chairman Osamu Suzuki today met Haryana Chief Minister Bhupinder Singh Hooda and emphasised that the SIT looking into the last month's violence at Maruti's Manesar plant must find out the "root cause". Hooda, who met the Chairman of Maruti Suzuki India's (MSI) Japanese parent along with the top management of the Indian car maker, stressed that the culprits in the July 18 incident would be punished and...

NEW DELHI: Japan's Suzuki Motor (SMC) chairman Osamu Suzuki , who was scheduled to arrive on Wednesday to take stock of the operations of the Japanese carmaker's Indian subsidiary, is likely to skip a visit to the troubled Manesar plant. His itinerary may also not feature a meeting with the family of Awanish Kumar , who died on July 18 following the workers' violence. Suzuki, who is visiting India, will take stock of the situation at his largest...

GREATER NOIDA: Japan's Suzuki Motor Corporation is riding towards rural India in its bid to become a top three two-wheeler manufacturer in the country and sell a million units within the next three years. The company's Indian arm, Suzuki Motorcycle India plans to add 400 dealerships in 2014-15 out of which 300 would be in rural markets for its push for more volumes. It plans to have a total of 1,000 dealerships across the country by the end of FY15, up from the...

In an interview with ET Now, RC Bhargava, Chairman, Maruti Suzuki, shares his views on Suzuki trying to set up a plant in Gujarat. Excerpts: ET Now: Looking at the balance sheet and the interest of the minority shareholder, I find very little merit in Suzuki trying to set up a plant in Gujarat. RC Bhargava: The Gujarat plant is part of Suzuki's overall scheme to make sure that its Indian operations are strong and healthiest, since...